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Working Paper
The Impact of Limiting Applicant Information on Rental Housing Discrimination
Policies that reduce information on applicants (e.g., limiting criminal history) have mixed results in the labor market. However, little is known about their impact in the housing market. We submitted fictitious email inquiries to publicly advertised rentals using names manipulated on perceived race and ethnicity before and after a policy that restricted the use of background checks, eviction history, income minimums, and credit history in rental housing applications in Minneapolis. After the policy was implemented, discrimination against African American and Somali American men increased. ...
Global Perspectives: Glenn Hubbard on Immigration, Economic Dynamism and Limits of Monetary Policy
Hubbard and Dallas Fed President Rob Kaplan discussed his experiences working in the George W. Bush administration and immigration's impact on the workforce.
Working Paper
The Effect of Immigration on Local Labor Markets: Lessons from the 1920s Border Closure
In the 1920s, the United States substantially reduced immigration by imposing country-specific entry quotas. We compare local labor markets differentially exposed to the quotas due to variation in the national origin mix of their immigrant populations. U.S.-born workers in areas losing immigrants did not gain in income score relative to workers in less exposed areas. Instead, in urban areas, European immigrants were replaced with internal migrants and immigrants from Mexico and Canada. By contrast, farmers shifted toward capital-intensive agriculture, and the immigrant-intensive mining ...
Spanish-Speaking Growth in Texas Reinforces Need to Close Education Gaps
The Eleventh Federal Reserve District has the second-largest native Spanish-language population in the Federal Reserve System. That population will grow further as the number of Hispanics exceeds 20 million in Texas alone by 2050.
Working Paper
The Indirect Fiscal Benefits of Low-Skilled Immigration
Low-skilled immigrants indirectly affect public finances through their effect on native wages & labor supply. We operationalize this general-equilibrium effect in the workhorse labor market model with heterogeneous workers and intensive and extensive labor supply margins. We derive a closed-form expression for this effect in terms of estimable statistics. We extend the analysis to various alternative specifications of the labor market and production that have been emphasized in the immigration literature. Empirical quantifications for the U.S. reveal that the indirect fiscal benefit of one ...
Working Paper
The Allocation of Immigrant Talent: Macroeconomic Implications for the U.S. and Across Countries
We quantify the barriers to the economic integration of immigrants using an occupational choice model with natives and immigrants of multiple types subject to wedges that distort their allocations. We show that key parameters, including wedges, can be estimated to match the distribution of employment and earnings across individuals and occupations. We find sizable output gains from removing immigrant wedges in the U.S., accounting for 7 percent of immigrants' overall economic contribution. These gains arise from increased labor force participation and from reallocation from manual toward ...
Working Paper
Immigrant Misallocation
We quantify the barriers that impede the integration of immigrants into foreign labor markets and investigate their aggregate implications. We develop a model of occupational choice with natives and immigrants of multiple types whose decisions are subject to wedges which distort their allocation across occupations. We estimate the model to match salient features of U.S. and cross-country individual-level data. We find that there are sizable GDP gains from removing the wedges faced by immigrants in U.S. labor markets, accounting for approximately one-fifth of the overall economic contribution ...
Briefing
How Much Do Multinational Companies in the U.S. Depend on Immigrant Workers?
Foreign multinational firms that operate in the U.S. hire more immigrants from their home countries than from other countries, in part because they facilitate communication between the parent company and the subsidiaries in the U.S. Restrictions to immigration in the U.S. can cause the relocation of production to countries such as India and Canada. Multinational companies drive a big part of this relocation, since they are more intensive on immigrants.
Texas Birth-Rate Decline Complicates Economic Growth Prospects
Lower birth rates are associated with less growth and a more rapidly aging population and, hence, slower economic expansion.